1. Cattle spend about four months in feedlots, so operators will have to buy more corn through the spring. 2. Corn futures also were boosted by a bright export picture, with South Korea buying corn and Thailand interested in a major shipment. 3. Since cattle spend about four months on feed before reaching slaughter weight, feedlot operators will have to buy more corn over the next several months. 4. Some brokers said domestic processors have been buying corn to lock in prices for their supplies, protecting themselves should prices move higher. 5. Some brokers said that domestic processors have been buying corn to lock in prices now, protecting themselves should the market move higher. 6. South Korea is buying Chinese corn instead of the more expensive U.S. grain, and it appears other countries also are looking elsewhere. 7. That cheap corn is then bought by large farms, which feed it to animals, leading to profitable business for meat packers. 8. The approval for the loan, which will mostly be used to buy corn, traders said, was announced after the markets closed yesterday. 9. The Frito-Lay unit of PepsiCo has announced that it will not buy modified corn. 10. Conasupo buys corn from producers and sells it to tortilla makers at a third the price. |